China's Underground Banking Empire: How Drugs & Money Corrupt America | Sam Cooper

Mauldin Economics January 31, 2025
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Mauldin Economics helps you understand the most important news and make smarter, more durable portfolio decisions. Global Macro Update with Ed D'Agostino dives deep each week with economists, analysts and newsmakers - showing you what's really going on in finance, government policy, and geopolitics. To sign up for Global Macro Update, just go here: https://www.mauldineconomics.com/global-macro-update?utm_source=MEC&utm_medium=youtube&utm_campaign=gmu-opt-in&utm_id=JM563&utm_content=me-youtube Our research reaches over 150,000 investors just like you, and our team, led by John Mauldin and Ed D'Agostino, includes some of the most respected independent minds in finance. For more information and access to additional free resources from Mauldin Economics, just visit: https://www.mauldineconomics.com/free-research?utm_source=MEC&utm_medium=youtube&utm_campaign=gmu-opt-in&utm_id=JM563&utm_content=me-youtube Follow us on X!

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China has weaponized fentanyl against the United States. You might think of Mexican kingpins as the top of the drug food chain, but everybody works for somebody. And that somebody is often a gangster in China, made “respectable” by his other legitimate business operations and a position within the Chinese Communist Party. But it gets worse. Today we’re speaking with Canadian investigative journalist Sam Cooper, whose deeply researched book Wilful Blindness exposes Canada’s damning role in the opioid trade. This might explain why the Trump administration is going on the offensive with our northern neighbor. Sam’s research uncovers an intricate network, where the inputs to make synthetic opioids like fentanyl move from China to Vancouver, where they are processed and released as a plague over all North America. Meanwhile, the drug money is laundered through casinos, real estate, and Chinese exports. Opioid deaths have soared in the past two decades. This epidemic is no longer limited to the poorest corners of the US. The damage is everywhere, and it is growing. Yet powerful people are turning a blind eye to this “opium war in reverse.” Follow Sam Cooper’s work at The Bureau here: https://www.thebureau.news/ Subscribe to my free weekly e-letter here: https://www.mauldineconomics.com/go/JM563S/YTB Follow Ed D’Agostino on LinkedIn: https://www.linkedin.com/in/ed-d-agostino-415475296/ Time stamps: 00:00 – Introduction 04:07 – Foreign financial networks in Canada 07:55 – Heroin and the big circle gang 12:01 – Offshore takeover of Vancouver real estate 16:38 – Gangsters, Hong Kong businessmen, and the CCP 19:99 – Decentralized fentanyl trafficking 25:17 – Fentanyl is a weapon in the war against the West 31:56 – Elite capture 35:52 – How Australia fought back 39:57 – Wilful Blindness